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President Donald Trump said he would set tariff rates for US trading partners “over the next two to three weeks,” saying his administration lacks the capacity to negotiate deals with all of its trading partners.
Trump said Friday that Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick “will be sending letters out essentially telling people” what “they’ll be paying to do business in the United States.”
“I think we’re going to be very fair. But it’s not possible to meet the number of people that want to see us,” the president said during a meeting with business executives in the United Arab Emirates.
The US president asserted there are “150 countries that want to make a deal.” He didn’t say how many, or which, nations would receive letters. The countries that get them “could appeal it,” Trump added, without explaining how that process would work.
The White House and Commerce Department didn’t immediately respond to requests for comment overnight in the US.
Trump announced higher tariffs on dozens of trading partners on April 2, but later paused them for 90 days amid investor panic to give foreign governments time to negotiate. Yet the president in recent weeks has moved away from the idea he would engage in a back-and-forth with every partner.
While the Trump administration is prioritizing trade talks with more than a dozen nations, a lack of manpower and capacity makes it impossible to hold concurrent negotiations with all the countries caught up in the president’s so-called reciprocal tariffs plan.
Tariffs are charged at the border by US Customs and Border Protection, but the extra costs are often passed on in part or full to US consumers.
Earlier this month, Trump said he would simply dictate tariff levels for many nations looking to avoid higher duties.
Negotiations are still ongoing with several economies, including the Japan, South Korea, India and the European Union. Trump recently agreed to a trade framework with the UK and to a mutual temporary tariff reduction with China to buy more time for talks.
The US president said Thursday that New Delhi made an offer to drop tariffs on US goods, a proposal that the Indian government did not confirm.
The post Trump Says US to Set Tariff Rates for Other Nations in Weeks appeared first on Bloomberg.
